Wealth manager Envestnet reported financial results Thursday for its fourth quarter and full year ended Dec 31, 2010.
Revenues from assets under management (AUM) or assets under administration (AUA) increased 33% to $21.8 million for the fourth quarter of 2010 from $16.4 million for the fourth quarter of 2009. Total revenues, which includes licensing and professional services fees, increased 27% to $27.6 million for the fourth quarter of 2010 from $21.8 million for the fourth quarter of 2009
Adjusted EBITDAincreased 56% to $5.5 million for the fourth quarter of 2010 from $3.6 million for the fourth quarter of 2009
Adjusted net incomeincreased to $2.3 million, or $0.07 per diluted share, for the fourth quarter of 2010 from an adjusted net loss of $(0.02) million, or $(0.02) per diluted share, for the fourth quarter of 2009
Net income attributable to common stockholders was $0.9 million, or $0.03 per diluted share, for the fourth quarter of 2010 compared to a net loss attributable to common stockholders of $(3.2) million, or $(0.25) per diluted share, for the fourth quarter of 2009
Revenues from AUM or AUA increased 34% to $76.0 million for 2010 from $56.9 million for 2009; total revenues increased 26% to $98.1 million for 2010 from $77.9 million for 2009
